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Snap wants you to pay for Snapchat Plus to boost its revenue

If, by any chance, you feel your subscriptions are not enough, Snapchat is offering you one more. The social media network is working on a paid tier unimaginatively called Snapchat Plus.

The company has confirmed the new product through spokesperson Liz Markman, who released the following statement: “We’re doing early internal testing of Snapchat Plus, a new subscription service for Snapchatters. We’re excited about the potential to share exclusive, experimental, and pre-release features with our subscribers, and learn more about how we can best serve our community.”

However, app researcher Alessandro Paluzzi had separately posted about the new features on Twitter. He reported that Snapchat Plus features include “#1 BFF,” which allows you to pin one of your friends and probably create a more intimate experience with them. A subscription will also enable you to track your friend’s whereabouts in the last 24 hours, which may be good for keeping tabs on friends for security. You can also change the Snapchat icon if the original one is not to your liking, display your own badge in your profile, and view those that have been secretly re-watching your stories.

According to Paluzzi, Snapchat Plus is currently pegged at 4.59 euros (US$4.84) per month and 45.99 euros (US$48.50) for a year. However, nothing says these are not simply placeholders at this stage, so the final prices may be different.

Snap is only joining the club of social media companies offering or working on a paid tier. Telegram is working on one, too, and is expected to roll out later this month. Twitter also launched the Blue tier last year, which allows users to edit their tweets within a time frame. However, Elon Musk, who is in the protracted process of buying the company, has hinted he plans to increase the micro-blogging site’s revenues by making some set of users pay to remain on the platform instead of relying on the advertising revenue.

Tech companies have been scrambling to find another source of revenue after Apple rolled out new privacy features on iOS 14.5 that affected advertising. The update allowed iOS users to turn off ad tracking for a particular app.

Snapchat pointed to the new privacy policy as the reason it didn’t meet its revenue target and would be slowing down hiring new staff.

Written by HackerVibes

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